Home Loan EMI on ₹15L at 8% for 20 Years
Complete home loan EMI calculation with amortization schedule
Monthly EMI
₹12,547
Total Interest
₹15,11,280
Total Payment
₹30,11,280
Your monthly home loan EMI is ₹12,547. Over 20 years, you pay ₹15,11,280 in interest — that's 101% of the loan amount. You can claim up to ₹2 lakh tax deduction on interest under Section 24(b).
| Year | Principal | Interest |
|---|---|---|
| 1 | ₹31,710 | ₹1,18,854 |
| 2 | ₹34,342 | ₹1,16,222 |
| 3 | ₹37,192 | ₹1,13,372 |
| 4 | ₹40,279 | ₹1,10,285 |
| 5 | ₹43,622 | ₹1,06,942 |
| 6 | ₹47,243 | ₹1,03,321 |
| 7 | ₹51,164 | ₹99,400 |
| 8 | ₹55,411 | ₹95,153 |
| 9 | ₹60,010 | ₹90,554 |
| 10 | ₹64,991 | ₹85,573 |
| 11 | ₹70,385 | ₹80,179 |
| 12 | ₹76,227 | ₹74,337 |
| 13 | ₹82,553 | ₹68,011 |
| 14 | ₹89,405 | ₹61,159 |
| 15 | ₹96,826 | ₹53,738 |
| 16 | ₹1,04,862 | ₹45,702 |
| 17 | ₹1,13,566 | ₹36,998 |
| 18 | ₹1,22,992 | ₹27,572 |
| 19 | ₹1,33,200 | ₹17,364 |
| 20 | ₹1,44,021 | ₹6,308 |
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹31,710 | ₹1,18,854 | ₹14,68,290 |
| 2 | ₹34,342 | ₹1,16,222 | ₹14,33,948 |
| 3 | ₹37,192 | ₹1,13,372 | ₹13,96,756 |
| 4 | ₹40,279 | ₹1,10,285 | ₹13,56,477 |
| 5 | ₹43,622 | ₹1,06,942 | ₹13,12,854 |
| 6 | ₹47,243 | ₹1,03,321 | ₹12,65,611 |
| 7 | ₹51,164 | ₹99,400 | ₹12,14,447 |
| 8 | ₹55,411 | ₹95,153 | ₹11,59,037 |
| 9 | ₹60,010 | ₹90,554 | ₹10,99,027 |
| 10 | ₹64,991 | ₹85,573 | ₹10,34,036 |
| 11 | ₹70,385 | ₹80,179 | ₹9,63,652 |
| 12 | ₹76,227 | ₹74,337 | ₹8,87,425 |
| 13 | ₹82,553 | ₹68,011 | ₹8,04,872 |
| 14 | ₹89,405 | ₹61,159 | ₹7,15,467 |
| 15 | ₹96,826 | ₹53,738 | ₹6,18,641 |
| 16 | ₹1,04,862 | ₹45,702 | ₹5,13,778 |
| 17 | ₹1,13,566 | ₹36,998 | ₹4,00,212 |
| 18 | ₹1,22,992 | ₹27,572 | ₹2,77,221 |
| 19 | ₹1,33,200 | ₹17,364 | ₹1,44,021 |
| 20 | ₹1,44,021 | ₹6,308 | ₹0 |
Tax Benefits on Home Loan
Under Section 24(b), you can claim a deduction of up to ₹2 lakh per year on home loan interest for self-occupied property. Under Section 80C, principal repayment up to ₹1.5 lakh qualifies for deduction. These benefits can save you significant tax over the loan tenure.